ProShares Ultra Russell 2000 (NYSEARCA:UWM) Sees Large Drop in Short Interest

ProShares Ultra Russell 2000 (NYSEARCA:UWM) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 157,400 shares, a drop of 26.4% from the September 30th total of 214,000 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily volume of 409,700 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 409,700 shares, the short-interest ratio is currently 0.4 days. Approximately 2.9% of the shares of the stock are sold short.

Institutional Trading of ProShares Ultra Russell 2000

Several institutional investors and hedge funds have recently modified their holdings of UWM. Capital Investment Advisory Services LLC raised its position in shares of ProShares Ultra Russell 2000 by 19.4% during the 1st quarter. Capital Investment Advisory Services LLC now owns 4,300 shares of the company’s stock valued at $144,000 after purchasing an additional 700 shares during the period. HHM Wealth Advisors LLC bought a new stake in shares of ProShares Ultra Russell 2000 during the 1st quarter valued at $47,000. Kestra Advisory Services LLC raised its position in shares of ProShares Ultra Russell 2000 by 4.8% during the 1st quarter. Kestra Advisory Services LLC now owns 75,245 shares of the company’s stock valued at $2,516,000 after purchasing an additional 3,451 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of ProShares Ultra Russell 2000 by 924.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,049 shares of the company’s stock valued at $69,000 after purchasing an additional 1,849 shares during the period. Finally, Financial Management Network Inc. bought a new stake in shares of ProShares Ultra Russell 2000 during the 2nd quarter valued at $283,000.

ProShares Ultra Russell 2000 Price Performance

Shares of UWM stock opened at $47.27 on Tuesday. The company has a market capitalization of $248.17 million, a price-to-earnings ratio of 13.49 and a beta of 2.27. ProShares Ultra Russell 2000 has a one year low of $24.47 and a one year high of $51.87. The company’s fifty day moving average price is $46.45 and its 200-day moving average price is $40.15.

About ProShares Ultra Russell 2000

The ProShares Ultra Russell2000 (UWM) is an exchange-traded fund that is based on the Russell 2000 index. The fund provides 2x leveraged exposure to a market-cap-weighted index of US small-cap companies. UWM was launched on Jan 23, 2007 and is managed by ProShares.